Cibc World Markets Corp Buys Shares of 11,491 Phillips Edison & Company, Inc. (NASDAQ:PECO)

Cibc World Markets Corp bought a new stake in shares of Phillips Edison & Company, Inc. (NASDAQ:PECO) during the 4th quarter, HoldingsChannel.com reports. The firm bought 11,491 shares of the company’s stock, valued at approximately $430,000.

Several other large investors also recently added to or reduced their stakes in the company. State Street Corp raised its stake in Phillips Edison & Company, Inc. by 0.3% during the 3rd quarter. State Street Corp now owns 7,068,684 shares of the company’s stock valued at $267,289,000 after purchasing an additional 18,429 shares during the period. Geode Capital Management LLC raised its stake in Phillips Edison & Company, Inc. by 0.6% during the 3rd quarter. Geode Capital Management LLC now owns 3,190,836 shares of the company’s stock valued at $120,347,000 after purchasing an additional 19,205 shares during the period. Charles Schwab Investment Management Inc. raised its stake in Phillips Edison & Company, Inc. by 2.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,145,517 shares of the company’s stock valued at $80,371,000 after purchasing an additional 51,186 shares during the period. Duff & Phelps Investment Management Co. raised its stake in Phillips Edison & Company, Inc. by 50.1% during the 3rd quarter. Duff & Phelps Investment Management Co. now owns 1,474,130 shares of the company’s stock valued at $55,589,000 after purchasing an additional 492,160 shares during the period. Finally, Massachusetts Financial Services Co. MA raised its stake in Phillips Edison & Company, Inc. by 5.4% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,108,716 shares of the company’s stock valued at $41,810,000 after purchasing an additional 56,897 shares during the period. 80.70% of the stock is owned by institutional investors and hedge funds.

Phillips Edison & Company, Inc. Trading Down 0.9 %

NASDAQ PECO opened at $34.93 on Monday. Phillips Edison & Company, Inc. has a 1-year low of $30.62 and a 1-year high of $40.12. The company has a market capitalization of $4.37 billion, a PE ratio of 69.86, a price-to-earnings-growth ratio of 1.70 and a beta of 0.57. The firm’s fifty day simple moving average is $36.09 and its 200-day simple moving average is $37.31.

Phillips Edison & Company, Inc. (NASDAQ:PECO) last posted its earnings results on Thursday, February 6th. The company reported $0.62 EPS for the quarter, topping the consensus estimate of $0.12 by $0.50. Phillips Edison & Company, Inc. had a net margin of 9.48% and a return on equity of 2.40%. As a group, analysts predict that Phillips Edison & Company, Inc. will post 2.55 EPS for the current year.

Phillips Edison & Company, Inc. Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Tuesday, April 15th will be given a dividend of $0.1025 per share. This represents a $1.23 annualized dividend and a yield of 3.52%. The ex-dividend date is Tuesday, April 15th. Phillips Edison & Company, Inc.’s payout ratio is 246.00%.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Wells Fargo & Company cut their target price on shares of Phillips Edison & Company, Inc. from $39.00 to $37.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 29th. JPMorgan Chase & Co. dropped their price target on shares of Phillips Edison & Company, Inc. from $41.00 to $40.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 7th. Finally, Mizuho dropped their price target on shares of Phillips Edison & Company, Inc. from $41.00 to $38.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 25th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $39.00.

Phillips Edison & Company, Inc. Profile

Phillips Edison & Co, Inc is a real estate investment trust, which engages in the ownership and operation of shopping centers. It also offers an investment management business providing property management and advisory services. Its portfolio consists of well-occupied, grocery-anchored neighborhood and community shopping centers having a mix of national, regional, and local retailers offering necessity-based goods and services.